How does it pay to be green?

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This book offers an in-depth exploration of the connection between environmental and economic performance, emphasizing how operational environmental strategy influences this relationship. It begins with a theoretical model and reviews existing literature before presenting two new empirical studies using fresh European data. The first study examines the paper industry across four European countries, revealing a predominantly negative relationship when assessing emissions-based environmental performance, while no significant link is found with inputs-based performance. The second study analyzes survey data from British and German manufacturing firms, applying the Environmental Shareholder Value concept to corporate environmental strategies for the first time. It finds that firms with a value-based environmental strategy experience a more favorable relationship between environmental performance and various competitiveness dimensions compared to those without such a strategy. This work is essential for both practitioners and academics, offering key insights into effectively managing the interplay between environmental and economic performance and demonstrating how corporate sustainability management can positively impact the bottom line.